Black Dog System

 
Basic system : Follow trend/turtle trader


TF: M15-H4
Pair : EURJPY GBPUSD GBPCHF USDJPY GBPJPY EURUSD AUDUSD CADJPY

 

Having read and written about the Black Dog Forex trading system before I was pleased to come across Paul who is an avid fan of Black Dog. I was especially pleased when he said he would write a review for GreatTradingSystems.com based on his own personal experiences of trading the system for the last 6 months.
Paul now writes about his trading and the Black Dog system on a regular basis and I have allowed him to include his affiliate link to the trading system at the bottom of his review as he wrote the review for free. But I would like to make it clear that GreatTradingSystems.Com does not profit in any way from that link; I merely wanted a review written by someone who actually traded it.
Naturally, one could question that Paul is bias due to the fact that he is an affiliate of Black Dog and as you know normally I would question that. However, as he does post regularly on his trading and you can follow him on his sites before you consider purchasing the system (if you wish to do so) I think that you will have plenty of opportunity to decide how independent the review is.

Black Dog Forex Trading System Review

Jason asked me to write a review the Black Dog Forex Trading someone as he was keen to get some who had successfully used it for a reasonable length of time.
I’ve actually been using the system since August 2009 and, in its revised form, the strategy has made over 1600 pips. My original method for trading the Black Dog made about 1200 pips in a a couple of months but was a little bit too high maintenance for comfort so I revised the criteria to filter out some of the higher risk trades.
Before I get onto the actual strategy, though, I just wanted to talk about what purchasing the Black Dog system gets you. The customer service from Dave, the author of the system, is second to none and all queries will be dealt with usually in a matter of hours. revised the criteria to filter out some of the higher risk trades.
You also have access to the Black Dog forum where experience Black Dog traders keep journals of their daily trades which is a really useful resource for new traders. There is also a ‘trading room’ where traders will flag up potential Black Dog trades ‘live’ for other traders to take – I’ve seen similar services costing £100 – £200 per month alone. One to one live trading via Skype can also be arranged free of charge. So when you consider that the system is also very profitable its obviously a great package.
The only criticism I would place against Black Dog is that there are too many ways to trade it and its very important to have trade with some rock solid rules that you just don’t break at all.
The way I trade Black Dog is nothing unique – its really just a collection of the indicators and rules that are supplied in the documentation which is on the Black Dog site;
I currently monitor 8 markets but would recommend watching just 2 when you’re starting out. The markets I watch are usd/gbp, eur/usd, usd/jpy, eur/jpy, aud/usd, nzd/usd, usd/chf, usd/cad and I trade off the 15 min time frame as most Black Dog traders do.
The basic rules I follow are:
-Don’t take trades ½ hr either side of ‘high impact’ news announcements
-The 1hr MACD (please see chart) has to be green for buy or sell for red.
-The top of the MACD (please see chart) has to be above the blue line for a buy – below for a sell
-The price has to be above the 50 EMA’s (see chart) & the 15 EMA for a buy – below for a sell
If all those are in place we can look for possible entries:-
Entries are made when the price goes through and ‘bounces off’ the 15 ema. We wait for the price to go 3 or 4 pips past the high (for buys) or the low (for sells) of the previous candle. The stop loss is 20 and the profit target also 20. Please have a look at the charts for clearer explanation.

 

Results wise going back to August I’ve had around 75% success rate using Black Dog forex at level profit limit and stop loss so can recommend it 100% if you’re looking for a successful, low risk, straightforward trading strategy.